Maithan Alloys Limited has made an additional acquisition of Bank of Baroda equity shares through stock exchange transactions, with the latest purchase completed on February 17, 2026. The company disclosed this acquisition under SEBI regulations after triggering threshold limits, becoming aware of detailed particulars on February 18, 2026.

Latest Acquisition Details

The most recent acquisition involved purchasing 659000 shares of Bank of Baroda for a total consideration of Rs. 20.03 crore through cash payment on February 17, 2026. This represents a 0.01% shareholding in the public sector bank, acquired through stock exchange transactions.

Investment Strategy and Rationale

Maithan Alloys has stated that these shares were acquired as part of its investment strategy to reap long-term and short-term investment benefits. The company has explicitly clarified that it does not intend to acquire control, whether directly or indirectly, of Bank of Baroda's management. The acquisitions do not fall within related party transactions, and the promoter group has no interest in the acquired entity.

Bank of Baroda Profile and Performance

Bank of Baroda, incorporated on July 20, 1908, operates as a comprehensive public sector bank offering corporate banking, cash management, financing, lending, treasury solutions, and retail banking services. The bank also provides investment products including mutual funds, insurance plans, and demat services.

Historical Financial Performance

Bank of Baroda has demonstrated consistent growth trajectory over the past three years:

Regulatory Compliance and Global Presence

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following the triggering of threshold limits. No governmental or regulatory approvals were required for this acquisition, as it was conducted through stock exchange transactions at arm's length. Bank of Baroda maintains its presence in India with 75 overseas branches across 17 countries, demonstrating its extensive global footprint.

Maithan Alloys Limited has issued corrected details regarding its acquisition of equity shares in Canara Bank through stock exchange transactions. The company disclosed the revised information under regulatory compliance requirements on February 18, 2026, after becoming aware of the detailed particulars.

Corrected Acquisition Details

The share acquisition was completed on February 17, 2026, with corrected transaction details as follows:

Investment Strategy and Rationale

The shares were acquired through stock exchange as part of Maithan Alloys Limited's investment portfolio with a view to reap long-term and short-term investment benefits. The company has explicitly stated that it does not intend to acquire control, whether directly or indirectly, of Canara Bank's management.

The acquisition does not fall within related party transactions, and the promoter/promoter group/group companies have no interest in the acquired entity. The transaction was conducted at arm's length through the stock exchange mechanism.

Target Entity Profile

Canara Bank, incorporated in 1906, is a major public sector bank in India providing banking services, financial services, acceptance of deposits, lending services, and credit facilities. The bank's financial performance demonstrates strong fundamentals:

Historical Performance

Canara Bank has shown consistent growth in turnover over the past three years:

Regulatory Compliance and Timeline

The disclosure was made under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, following the triggering of threshold limits. The event occurred on February 17, 2026 at 3:30 PM, and the company became aware of detailed particulars regarding the acquisition on February 18, 2026 at 9:47 AM.

Canara Bank operates in India and has international presence in four foreign countries: United States of America, United Kingdom, United Arab Emirates, and Republic of Tanzania. The acquisition requires no governmental or regulatory approvals as it was conducted through normal stock exchange transactions.